Wondering where you should get an apartment in Jersey? Well, if rent is a factor, you might want to avoid the Gold Coast, at least according to a recent study by RENTCafe.com.
The three highest monthly rents in the website’s April Rent Report were found in Hoboken and Edgewater, both well over $3,000 a month, and Jersey City, which fell just short of that mark.
At the other end of the spectrum, average rents in Irvington and Lindenwold failed to crack the $1,000-a-month mark.
Among New Jersey’s most prominent cities, Trenton actually had the highest growth rate, up 5.3% from 2018 — but the average rent of $1,122 was still the third-lowest in the survey.
Nationally, the average rent price rose 3% year-over-year, to $1,436 per month.
The five highest average monthly rents in April:
- Hoboken, $3,472;
- Edgewater, $3,168;
- Jersey City, $2,922;
- West New York, $2,533;
- Fort Lee, $2,527.
The five lowest:
- Irvington, $946;
- Lindenwold, $970;
- Trenton, $1,122;
- Blackwood, $1,134;
- Newark, $1,170.
The report was based on data from Yardi Matrix compiled from actual rents charged in market-rate apartment communities with 50 or more units.
For the complete report, see below or click here.